May 2, 2008 |
For at least a day, the financial markets seemed to take a perfect cue Thursday from the Federal Reserve. Oil and other commodity prices fell. The dollar strengthened. Earnings news was generally positive. And investors, liking what they saw, drove stock prices up sharply.
December 28, 2002 |
Geopolitical jitters sent stocks reeling Friday as the market closed out another losing week en route to its third straight down year. Investors shifted money into Treasury securities and gold as a rebel bombing in Chechnya left more than 40 people dead, adding to growing nervousness over the U.S. standoffs with both Iraq and North Korea. At the same time, the dollar continued its recent swoon as war worries soured investors on the greenback.
June 6, 1995 |
Stocks surged to record highs Monday on the back of IBM's surprise $3.3-billion takeover bid for software firm Lotus Development Corp. Analysts said Wall Street was also hoping that the Federal Reserve Board will cut interest rates to keep the economy from slipping into recession. At the close, the Dow Jones industrial average was up 32.16 points at 4,476.55, beating the old record of 4,472.75 reached last Thursday. Several broader market indicators closed at new highs Monday.
December 7, 1995 |
U.S. stocks rose to records for a third day Wednesday as investors grew more confident that corporate profits will expand next year as interest rates fall. Shares of banks and other financial companies led the advance. Expectations that the Federal Reserve Board will trim interest rates this month fueled optimism that the year-old rally in stocks still has room to grow.
November 6, 1993 |
Market Overview * Fresh signs of economic growth in the October employment report pushed long-term bond yields up for the sixth consecutive trading day Friday, extending a three-week selloff. * U.S. stocks, battered by two days of heavy selling, closed mixed as bargain hunters entered the market. Overseas, most foreign markets suffered deep declines. * Gold soared to a three-month high, gaining from the turmoil in stocks and bonds.
May 9, 2008 |
Wall Street closed a quiet session with a moderate advance Thursday, with energy and other commodities companies leading the market as oil prices extended their record-breaking run. The price of crude oil swept past $124 a barrel in late New York Mercantile Exchange trading, while gasoline rose to a new record of its own at the pump, climbing to a national average of nearly $3.65 a gallon. Though the rising price of oil ignited concerns about inflation Wednesday, knocking the Dow Jones industrial average down more than 200 points, stocks held on to their gains even as oil rose Thursday.
March 13, 2008 |
Wall Street's euphoria over the Federal Reserve's latest move to cure the credit crunch turned to caution Wednesday, leading stocks to retreat a day after their biggest rally in more than five years. The Fed's plan announced Tuesday to lend $200 billion in Treasury securities -- and accept mortgage-backed securities as collateral -- was greeted by the stock market as an innovative way to bring relief to the tight credit markets. But investors were hesitant Wednesday to pour more money into stocks without signs that the central bank's move would help turn around the economy.
January 10, 1996 |
Another massive sell-off of technology shares sparked a broad stock market decline on Tuesday as blizzard-weary Eastern traders struggled back to work. The latest breakdown of budget talks between President Clinton and Republican leaders also contributed to the markets' negative tone--which may only worsen today, some analysts warned. On Wall Street, the technology-heavy Nasdaq composite stock index plummeted 33.56 points, or 3.3%, to 998.81, its lowest close since early October.
August 9, 2011 |
Bank of America Corp. lost a fifth of its stock value in a general market rout amid heightened concerns about its ability to get ahead of the bad mortgages it holds, as well as the billions of dollars committed to resolving soured securities and home loans. Unease about the bank's continued malaise from the mortgage meltdown have grown in recent weeks, and some industry analysts pondered the possibility that the nation's largest consumer bank would have to seek additional capital to shore up its finances — especially if the nation heads into another recession.